All items that currently have a monthly/yearly frequency options -- such as expenses, incomes, and debt payments -- will now have five additional frequencies available. To access these new options, click the Annually or Monthly button to reveal additional payment frequency options.
The frequencies are:
- Biweekly, every other week (fortnightly), 26 times per year;
- Semimonthly, twice monthly, 24 times per year;
- Quarterly, 4 times per year;
- Semiannually, twice yearly, 2 times per year.
These options, particularly weekly, are especially important when entering loan payments. Weekly debt payments would reduce debt faster than monthly payments if you make a payment every week of the year, which equates to 52 payments.
The frequency options are available only for items that previously had a monthly/annually toggle. Items that could only be entered in annual amounts previously will remain so in this release. These items will not have a clickable, drop-down list of frequency options.
Does this mean I can now enter state pension benefits in weekly amounts?
Unfortunately no, at least not yet. We have this request in queue but it is a separate effort since state pensions have never had a frequency option before. Benefits have always been entered only in yearly amounts. The new frequency options are available only on items that already had a monthly/annually toggle.